Ohio Life Insurance for Hundreds
If a life insurance company cannot find the beneficiary or does not receive information that the policyholder passed away, the funds can remain unclaimed for years. Luckily for Ohio life insurance, a program designed to get these funds to the appropriate owner has been very successful.
The Ohio program was started over a year ago according to the article "Program Finds Lost Life Insurance for Hundreds" found on the Cincinnati News website. It has tracked down about 450 lost life insurance policies, most of which went to families of Ohio residents who have passed away. The successes were out of 680 requests submitted to the Ohio Department of Insurance over the course of the program which was started back in September 2009.
Lt. Gov. Mary Taylor believes these numbers are amazing and made a statement that the program has helped recipients cooperate with the Insurance Department and the life insurance companies. If you believe you are the rightful owner to a life insurance policy you can start a search on their website. You must include a death certificate as well.
If this program continues to be a success, it's hopeful that more states will initiate this type of search. There are thousands and thousands of dollars in unclaimed life insurance policies across the nation and most recipients aren't even aware that they are owed money. This is why it's important to notify your beneficiaries of the type of policies you have left to them in case something gets missed after you pass away. It can really simplify the process to keep everyone in the loop.